merpay-overview_en

1 As of August 2025 

2 　　 Company Overview  November 20, 2017  Established  Tokyo, Fukuoka 
Oﬃces  Establishing new ﬁnance-related businesses  Business Activities 

3 　　 Leadership    Director, CFO    Sayaka Eda  Formerly
Managing Director at Goldman Sachs Japan Co, Ltd.  Representative Director, CEO    Takeshi Nagasawa  After being in charge of growth for the mobile payment service Merpay, oversaw growth for Mercari Group’s ﬁntech operations before assuming the role of CEO (Fintech)    Vice President, Chief Technology Oﬃcer    Shunya Kimura    Led the establishment of R4D (Mercari’s research and development organization) and the implementation of AI for Mercari Group   Director    Masato Yamamoto  Formerly Head of Partner Sales at Google Japan Enterprise, and Head of Apple Pay Merchant Business at Apple Japan  Director    Kyosuke Nobukawa  Formerly worked at Sumitomo Mitsui Card Co., Ltd. 

4 　　 Leadership  Director, CRCO      Masahiro Shidachi  Formerly
Head of the Group Risk Management Head Oﬃce at Nomura Holdings, Inc., in charge of credit risk management and enterprise risk management for Nomura Group  Vice President,  CXO    Mayumi Narisawa  Formerly Head of Design  at Merpay    Vice President of Growth (Fintech)     Heesung Lee  Was in charge of leading the growth of the payment and credit businesses, including Mercard. Also managed the division in charge of platform development for growth. Assumed VP position in July 2024.  Vice President of   HR    Ai Miyakawa  Former Head of Human Resources of Cisco Systems, G.K.   Vice President, CPO      Keita Nakamura  Worked on mercariX at R4D, then moved to Merpay as a PM overseeing development of distributed ledgers, anti-money laundering systems, and new ﬁnance businesses. Has concurrent role as CEO of Mercoin, Inc. 

5 　　 Leadership  Vice President of Engineering    Satoru Joraku 
Former CISO of Sansan, Inc.  Vice President,  CISO    Yuki  Saito  In charge of system risk and security in the Fintech domain as Head of IT Risk and Security       Vice President of Engineering    Keigo Watanabe  Former Head of Engineering of Souzoh, Inc.    

6 Mission

7 　　 What Is Merpay?  Merpay is a mobile payment
service operated by Merpay, Inc., that can be used within the Mercari marketplace app.    This service enables users to utilize their Mercari sales balance1, funds added to their Merpay balance from a bank account or ATM, or the BNPL (buy now, pay later) Merpay Smart Payments service to pay for purchases at physical stores and online with their smartphone. Merpay supports both iD contactless payments2 and code payments and can be used at JCB merchants across Japan with Mercard, a credit card with a point-back rate that increases based on use of Mercari and Merpay.    1. In order to use Mercari sales balance, users must conﬁgure certain settings or use their sales balance  to purchase Mercari points.  2. ”iD” is a registered trademark of NTT DOCOMO, INC. 

8 　　 Mercari Group’s “Circular Finance”  The addition of Merpay
(money and credit) and Mercoin (cryptoassets) to Mercari’s item lifecycle creates a circular relationship between users’ items, money, and credit, facilitating the growth of “circular ﬁnance” that grants users greater freedom and ﬂexibility. It provides users with a valuable, uniquely Mercari experience.  Payment  Credit  Crypto-  assets  Money  Sales Listing  Aiming to achieve   their dreams  Bitcoin  Ethereum  XRP  Money  Mercard  Transaction  History  Credit Information  Value Circulation  Goods 

9 　　 Fintech’s Three Focus Areas  Pay for everyday purchases
all at once the following month  Pay over several months at a user-set fixed amount or over a specified number of installments  iD payment  Code payment  Various payment methods available  Various services that utilize unique credit based on  behavior history such as usage history on Mercari  Payment  Credit  Asset Management  Hold your phone over  a reader  Scan a code  Virtual  card  Input a card number    Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari  Credit card Lump-Sum Payment  Installment Payment /  Fixed-Amount Payment  Merpay Smart Money  Merpay Smart Payments  Credit card (Mercard)  Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari  *Cryptoasset-related services are provided by Mercoin, Inc. 

all at once the following month  iD payment  Code payment  Various payment methods available  Various services that utilize unique credit based on  behavior history such as usage history on Mercari  Payment  Credit  Asset Management  Hold your phone over  a reader  Scan a code  Virtual  card  Input a card number    Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari  Credit card Lump-Sum Payment  Merpay Smart Money  Merpay Smart Payments  Credit card  (Mercard)  Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari  Installment Payment /  Fixed-Amount Payment  *Cryptoasset-related services are provided by Mercoin, Inc.  Pay over several months at a user-set fixed amount or over a specified number of installments 

11 　　 Number of Merpay Users/Verified Users Note: As of
June 30, 2025, the aggregated number of unique users (excludes users who have deleted their accounts) who had registered for Merpay Electronic Money, set up Virtual Card, applied for Mercard, opened an account for exchanging cryptoassets, or used Merpay QR Code Payments, Online Payments, or Merpay Smart Payments (lump-sum payment or fixed-amount payment), etc.    Identity Verification Rate  (Million users)  Million users    Million users    94.3% 

12 　　 Start-up fees   0 JPY  Service fee for
merchants  2.6%  Expanding the Number of Merchants Using Merpay  There are no start-up fees for merchants to start using Merpay, and we only charge a ﬁxed fee of 2.6% per transaction. Since September 2020, Merpay and d Payment have used a shared QR code for their mobile payment services.   Both companies have also partnered to promote their services to merchants.   

13 　　 Building a Primary-Secondary Distribution Cycle  with Mercari and
Merpay  Receives sales proceeds/adds money to balance  Receives item  Mercari Group’s services form a sustainable cycle in which users sell things they no longer need on Mercari and use the resulting sales proceeds to shop at physical and online stores (primary distribution) through Merpay.  Sells things they no longer need on Mercari  Buys new things using Mercari sales balance 

all at once the following month  Pay over several months at a  user-set fixed amount or over a specified number of installments        iD payment  Code payment  Various payment methods available  Various services that utilize unique credit based on  behavior history such as usage history on Mercari  Payment  Credit  Asset Management  Hold your phone over  a reader  Scan a code  Virtual  card  Borrow when needed and repay flexibly; interest rates fluctuate depending on the borrower's usage of Mercari  Credit card Lump-Sum Payment  Installment Payment /  Fixed-Amount Payment  Merpay Smart Money  Merpay Smart Payments  Credit card  (Mercard)  Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari  Input a card number    *Cryptoasset-related services are provided by Mercoin, Inc. 

15 　　 Merpay Smart Payments—  A Credit Service Based on
“Trust”  Notes: Users 18 or 19 years of age have an upper usage limit of 100,000 yen. (Feature not available to users under the age of 18).  Fixed-amount payment not available to high school students.    • Smart Payments enables users to pay for purchases later, with the credit limit determined by their Mercari usage history.  • The service also allows users to set their own usage limit and check their usage history, so they can manage their payments themselves.  • Smart Payments provides ﬂexible deferred payment, installment payment, and ﬁxed-amount payment options, allowing users to adjust repayment amount at any time.  • Users can also use installment payment (two-installment payment) without incurring fees.   

16 　　 Merpay’s Deﬁnition of "Trust"  We measure “trust” based
not on who people are, but on what they have done.  We determine whether a user will uphold their promise to repay based on their unique transaction data from Mercari. In this way, we can build trust, creating a new form of credit for the user.  Notiﬁes about completed payment  Reviews  Receives sales proceeds    Purchases/pays to  Reviews  Sends  Lister  Buyer  Length of employment  Address  Income  Occupation  Family structure 

17 　　 Increasing Opportunities to Expand AI Credit, the Core
of Deferred Payment Services  In April 2021, the Installment Sales Act was partially revised, allowing AI to be used to determine credit rather than traditional credit systems.  As a result of the new system, business operators began offering small-sum deferred payment services, accelerating the momentum of deferred payment services in Japan.  Aug 2021  Merpay acquired AI credit certification  - Merpay acquired the first certification on August 27, 2021  - This enabled Merpay to calculate how much a user could affordably be expected to pay based on data such as Mercari usage history    Apr 2021  Bill to revise the Installment Sales Act announced  A bill to partially revise the Installment Sales Act was ratified by the cabinet in March 2020 and announced in June of the same year        Revised Installment Sales Act enacted  The revised Installment Sales Act defined the following two points, among others:  1. Introduction of regulations for small-sum deferred payment made in installments  2. Allowance for enhanced screening methods  This introduced a registration system for business operators providing small-sum (100,000 yen or less) deferred payment services and enabled the use of AI for credit screenings instead of traditional screenings to determine the amount a user is likely to be able to pay.       

18 　　 Visualization of Usage Status and Flexible Payment Methods 
Displays the amount of time until repayment is complete, as well as the monthly payment amount and fees  Enables ﬂexible payments  + Can use Mercari sales balance  + Can pay whenever you want  + Can adjust the payment amount after purchase  Visualizes usage status  Allows users to create a payment schedule that reasonably ﬁts with their lifestyle 

19 　　 Deferred Payment Service Usage      (Merpay, October
11, 2021: “Survey on Consumption and Payment Methods” (https://jp.merpay.com/news/2021/10/202109bnplsurvey/))  Usage rate of deferred payment services  (Single answer/n=800)  ▪ Has used deferred payment  ▪ Has not used deferred payment  (Usage within the past year)  ▪ Usage of deferred payment services by age range  Percentage of credit card holders among  users of deferred payment services  (Users of deferred payment services/n=249)  ▪ Has a credit card　▪ Does not have a credit card  30% of people use deferred payment services. This number tends to be particularly high in younger age groups  Over 70% of deferred payment  service users have a credit card 

20 　　 Users of deferred payment services  are more interested
in  managing their ﬁnances  Users Choose Deferred Payment for Ease of Management  (Merpay, October 11, 2021: “Survey on Consumption and Payment Methods” (https://jp.merpay.com/news/2021/10/202109bnplsurvey/))  Issues of credit card users/  Reasons for using deferred payment services  (Results from respondents in their 20s–30s)  Issues faced when  using credit cards  (Multiple answers allowed / Users of deferred payment services in their 20s–30s / n=111)  Reasons for using  deferred payment services  (Multiple answers allowed / Users of deferred payment services in their 20s–30s / n=46)  I end up  spending too much    It’s hard to tell  how much I  spent    I’m worried about  security, like leaks  of my personal  information or  card number   ①  ②  ③ 49.5% 24.3% 19.8% I can change the  timing of my  payment    It’s easy to tell  how much I have  spent      It’s easy to plan  ahead for payments  ①  ②  ③  60.9% 34.8% 30.4% Usage of deferred payment services and interest in managing ﬁnances  Do you have a system for keeping track of your income and expenses, such as an account book or a notebook?  (Respondents who answered that they regularly keep track of their monthly income and expenses / n=700)  Q. Respondents who answered that they regularly keep track of their income and expenses using an account book or notebook, a smartphone app, or a computer program such as Excel  Deferred payment service users  Non-deferred payment service users  With credit cards, it’s easy to overuse them. Deferred payment services have the  advantage of both usage and payment  being easy to manage  

21 　　 User Examples    A woman in her 30s 
A woman in her 20s  Mainly uses deferred payment services  Frequently makes large payments when shopping for contact lenses, clothes, food, etc.    + It’s easy for her to visualize her usage  + She can carefully manage payment amounts and timing herself  Uses Merpay Smart Payments for everything  Uses iD contactless payment at physical shops and the virtual card online    + When she exceeds her personal budget, she can adjust her budget by selling things she no longer needs  + She can see her history for buying and selling things all on the same app  Main payment method  Usage scenarios  Reasons for use 

22 Mercard—Used and Managed in the Mercari app  In November
2022, we started providing Mercard, a credit card whose credit limit (up to 900,000 yen) is determined by the user’s Mercari usage history and which can be used and managed within the Mercari marketplace app. Together with the launch of Mercard, we also began oﬀering up to 4% points back when users use their Mercard or deferred payment through Merpay Smart Payments. The point-back rate for purchases made on Mercari can be increased not just by making payments at stores, but by buying and selling items on Mercari.   

23 　　 Launched Mercard Gold in March 2025    2%
points back on everyday purchases  Maximum usage limit of 3 million JPY  Complete lineup of additional services  (Includes shopping insurance, smartphone insurance, travel insurance, and free usage of airport lounges)  Bonus point awards  according to annual usage  No annual fees  If card usage is   500,000 JPY/year or more 

24 We have issued as many as 5 million1 Mercards.
Mercard allows users to make purchases at approximately 56 million JCB merchants worldwide2, on top of the stores that support code payments and iD payments.  Code payment  iD payment  1. Number of cards issued as of June 30, 2025.  2. Number of JCB merchants as of March 31, 2025. Mercard is a credit card shopping service.  Mercard  More than   5M   cards issued  Signiﬁcantly Increasing Stores Supporting Merpay Payment 

25 The Four Pillars of Mercard  Complete the Mercard application
from the Mercari app in as little as one minute  Point 1  The initial application takes as little as one minute for Mercari users who have already verified their identity (using eKYC). You can receive your card through the mail and start using it in as little as four days.    Verified users   17.9 million  Visualize and manage your Mercard usage right from  the Mercari app  Point 2  When your Mercard is used, you will receive an instant notification right to your Mercari app. You can also check your usage history, set spending limits, and make partial payments.    (As of Dec. 31, 2024)

26 The Four Pillars of Mercard  Flexibly choose the timing 
and method of your  payments  Point 3  Payments are made each month for the amount used in the previous month, but you can use your Mercari sales balance and make payments at any time, from the ﬁrst to the last day of the month. Furthermore, while you can pay for an entire month of card use at once in a lump-sum style payment, Mercard also allows you to select individual purchases to pay for in advance of others.  Beneﬁt from a unique credit system that doesn’t rely only on conventional factors like age and occupation  Point 4  Merpay’s credit services are easy for anyone to use, leveraging a unique form of credit based on past Mercari and Merpay usage rather than only conventional factors like age, occupation, and annual income.      Length of employment  Address  Income  Occupation  Family structure 

27 Features That Make Mercard Safe & Secure  Plus...  
Mercard is delivered through the mail, so you don’t have to worry if you aren’t home when it arrives. Even after it arrives, it can’t be used until you personally activate it by opening the Mercari app and touching your phone to the card. (Only available for devices that support NFC)  Three Features That Make Mercard Safe & Secure  Numberless  Your card information is managed on the app  Instant notifications  You can confirm your usage details from the app or an email notification instantly  Freeze your card from the app  In the event of an emergency, like theft or loss, you can freeze your card easily from the app 

28 Constant Point-Back Rewards System  In addition to the launch
of Mercard, we have started oﬀering point-back rewards to Mercard and Merpay Smart Payments deferred payment users. Using these services, users receive 1% points back for purchases made at stores and a maximum of 4% for purchases made on Mercari. We also oﬀer a special promotion on the 8th of every month, in which users are rewarded 8% of the amount they spend on purchases within and outside of Mercari as points (up to 300 points), added to the regular point-back rate for a maximum point-back rate of 12%.    + Up to 12% points back 

29 　　 • In August 2021, we launched Merpay Smart
Money, a small-sum loan service that Mercari users can apply for within the Mercari app and that utilizes Mercari usage history to determine a user’s interest rate and borrowing limit  • The service focuses on not only providing appropriate credit, but making that credit balance easy to repay, allowing users to repay using their Mercari points/sales balance and change their monthly repayment day, repayment amount, and other repayment plan details within the app  • Credit limits range from 5,000 yen to 500,000 yen based on the user’s Mercari usage history, with a yearly interest rate of between 3% and 15%.  Merpay Smart Money—Small-Sum Loan Based on Mercari Usage  　　　  Maximum borrowing limit is 500,000 yen. Interest rate and borrowing limit are determined through a screening process based on the user’s Mercari usage history. Not available to users less than 20 years of age or over 70 years of age.   

30 　　 Key Features of Merpay’s Safe and Secure  Credit
Services  Credit based on Mercari usage history  Flexible payment methods  Visualizes usage status  Mercari sales balance  We also have a dedicated team working daily to improve quality of the service, and we’re working to incorporate external experts’ opinions regarding provision and administration of the service 

all at once the following month  Pay over several months at a  user-set fixed amount or over a specified number of installments          iD payment  Code payment  Various payment methods available  Various services that utilize unique credit based on  behavior history such as usage history on Mercari  Payment  Credit  Asset Management  Hold your phone over  a reader  Scan a code  Virtual  card  Input a card number    Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari  Credit card Lump-Sum Payment  Installment Payment /  Fixed-Amount Payment  Merpay Smart Money  Merpay Smart Payments  Credit card  (Mercard)  Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari  *Cryptoasset-related services are provided by Mercoin, Inc. 

32 Three strengths of our  easy-to-use-for-anyone platform    • Apply
on the Mercari app in as little as 30 seconds  • All prices listed in JPY, with trades starting from 1 JPY  • Service oﬀers three types of cryptocurrency  Bitcoin, ethereum, and XRP  (added April 2025)  Bitcoin Trading Now Available on   Mercari Marketplace App  In March 2023, we launched bitcoin trading on Mercari    (Cryptoasset-related services are provided by Mercoin, Inc.) 

33 　　 New Uses for Sales Balance & Points  Source:
Mercoin survey on cryptoassets (February 2023)  Reasons for not holding cryptoassets  Responses from 1,227 people who do not hold cryptoassets  Note: Respondents were able to select multiple answers     36.9%  30.5%  26.6%    1 2 3 Low stress and easy to start!  It seems like a way to lose money  I ﬁnd it to be intimidating  I don’t have the money to buy in  (Cryptoasset-related services are provided by Mercoin, Inc.) 

34 　　 Accessible Bitcoin—3M Accounts in 21 Months  21 months
after the service launched  Reached  3M  accounts  Oct. 2023  May 2024  Dec. 2024  2M  accounts  1M  accounts  3M accounts    Note: Number of cryptoasset accounts as of December 17, 2024  Service started in Mar. 2023  (Cryptoasset-related services are provided by Mercoin, Inc.) 

35 　　 Expanding Crypto’s Reach    Mercoin is chosen by
users who have had no prior connections to cryptoassets  (Cryptoasset-related services are provided by Mercoin, Inc.)  Cryptoasset Trading Experience  86%  of account holders had no prior experience trading cryptoassets  Broad  age ranges  User Demographics    50s or older  24.4%  40s  24.7%  30s  24.3%  18–20s  26.6%  Notes: Data on users of Mercari’s bitcoin trading service (as of June 30, 2025).  The numbers in the graph are rounded to the nearest tenths place, and as such, may not total 100%. 

36 　　 Cryptoasset Trading on the Mercari App  → Sales
balance/points/  money added  Cryptoassets  (bitcoin, ethereum, and XRP)  Earn points for holding cryptoassets  • Buy and sell at any time  • Automatic bitcoin savings feature (can be set to 1, 2, or 4 times per month)  • Bitcoin payment feature  Holding ethereum in your account will earn you points every month  (Cryptoasset-related services are provided by Mercoin, Inc.) 

37 　　 Bitcoin Payment on Mercari Choose an item on
Mercari and  go to check out  Select “Use Bitcoin”  Choose how much to use Conﬁrm purchase details  Purchase the item  In February 2024, we started oﬀering a service that allows users to use bitcoin to make purchases on Mercari.  One month after the full release of the service, over 100,000 payments were made using bitcoin.  (Cryptoasset-related services are provided by Mercoin, Inc.) 

38 　　 Bitcoin and Ethereum Savings Features      *Service
not available to users under the age of 18 or over the age of 74.  Start in as little as 30 seconds!  Anyone*  Easy  Secure  Create an account in as little as 30 seconds and set up savings right away  Modify or turn oﬀ your plan and return the savings to your Merpay balance at any time  Choose the savings plan that’s right for you  In August 2024, we launched a bitcoin savings feature, which allows users to use the Mercari smartphone app to easily set up a bitcoin savings plan that automatically withdraws money from a bank account to purchase bitcoin. In October 2024, we also started to provide an ethereum savings feature.  (XRP savings not oﬀered)  (Cryptoasset-related services are provided by Mercoin, Inc.) 

39 　　 Earn Points Automatically Each Month    2.0%   
Notes: Expected annual revenue as of June 30, 2025  Subject to monthly change at the discretion of Mercari Group  No ﬁxed annual rate guaranteed  In the dynamic cryptoasset market,  we have introduced a method of earning stable point revenue    Any user who holds ethereum  on the Mercari app  Expected annual rate  Who is eligible  Notes: Mercoin began oﬀering an ethereum staking service on December 18  The annual rate of points awarded to users will be calculated independently of income obtained via staking  (Cryptoasset-related services are provided by Mercoin, Inc.) 

40 　　 Eﬀorts to Ensure a Safe and Secure Product 
We implement measures to prevent fraud in order to ensure a safe and secure user experience.  Compensation/  support provided in case of an incident  Monitoring  conducted 24/7  Authentication and identity veriﬁcation at time of registration and use 

41 　　 AI/visual check  Merpay identity verification (eKYC)  Identity verification 
via ID + selfie    KYC using Individual Number Card (JPKI)    Fraud coverage  Registering for Mercari  Connecting to financial institutions  Anti-fraud countermeasures employed in the process from account creation to bank account connection/service use  1. Two-factor authentication  (SMS)  2. Identity verified against name on bank account    3. Anti-fraud monitoring when charging from bank/using Merpay  4. Total coverage in the event of an incident    Transferring funds from bank  to Merpay  Using Mercari/Merpay  Ensuring a safe and secure environment has remained a priority for Merpay. We have implemented identity verification and anti-fraud countermeasures to use Merpay and Mercard services, as well as strengthened identity verification measures (eKYC). The number of Merpay and Mercard users who have completed identity verification (eKYC) has increased dramatically, helping Merpay become the first payment service to resume new connections and bank charging with financial institutions that had suspended such connections from November 2020 onwards, such as Japan Post Bank, Gunma Bank, Tochigi Bank, and Nagano Bank.  Efforts to Ensure a Safe and Secure Product 

42 　　 In March 2021, we launched an identity verification
process that uses Japan’s public Individual Number Card identification system (JPKI). Merpay is the first mobile payment service provider to implement identity verification using JPKI. Due to efforts to strengthen eKYC and promote identity verification, Merpay reached 18.4 million identity-verified accounts as of June 30, 2025.  Percentage of identity-verified users:  94%  18.4 million users  Efforts to Ensure a Safe and Secure Product Simple KYC using   official identification   (Individual Number Card)  A first in the payment industry  Individual Number Card  Verification 

43 　　 Appendix: Growth of Features/Services Since Merpay’s Launch  Feb–Mar
2019  iD Payments/QR Code Payments  Available at iD and Merpay merchants nationwide, including convenience stores, restaurants, drug stores, and fast-food franchises  Jul 2020  Merpay Smart Payments    Allows users to defer payment for items based on past usage of Mercari and Merpay  Online payments  Enables use of Merpay for not only offline purchases, but online as well  Sep  2020  Sending/receiving money  Enables users to send their Merpay balance/points to family and friends No-contact service  Apr–May 2019  Mar 2021  Shared d Payment/  Merpay QR code    Enables use of single QR code for both d Payment and Merpay  Merpay Smart Payments  (fixed-amount payment)   Allows for fixed-amount payments, whereby users pay in installments from the following month onwards  Mercari Donation  Enables donation of Merpay balance, charged from Mercari sales balance or bank account, etc., to local governments and other organizations of the user’s choice  Merpay Smart Money  Aug 2021  A small-sum loan service that Mercari users can apply for within the Mercari app and that utilizes Mercari usage history to determine a user’s interest rate and borrowing limit  Nov  2022  Mercard  A comprehensive, flexible credit card that allows users to receive instant notifications, check their usage history, and pay their bill right from the Mercari app  Also offers up to 4% points back from selling, buying, or making purchases at stores  Virtual card  Enables users to easily issue a card number which can be used to pay using Merpay balance at many online stores  Identity verification using Japan’s Individual Number Card (JPKI)  Support for identity verification using Japan’s public Individual Number Card identification service (JPKI)  Sep  2024  Merpay Smart Payments  (installment payment)    Started providing installment payments allowing users to pay for items using between 2 and 24 installments  Two-installment payments without fees also made available 

44 　　 History: Merpay  Merpay, Inc. established  Support for iD
contactless payments  Added support for code payments and released the coupon feature  Reached 1 million users of Merpay Electronic Money  Released Merpay Smart Payments (formerly Merpay Deferred Payment)  Released Online Payments feature  Reached 2 million users of Merpay Electronic Money　  Reached 4 million Merpay users  Reached 5 million Merpay users  Business alliance with Shinkin Central Bank concluded; reached 6 million Merpay users  Origami Inc. joined Mercari Group; Mercari, Merpay, and NTT DOCOMO agreed on partnership  Reached 7 million Merpay users  Fixed-amount payment and sending/receiving features released  Began providing a shared QR code for d Payment and Merpay  Reached 8 million Merpay users  Nov 2017   Feb 2019  Mar 2019  Apr 2019    May 2019  Jun 2019   Sep 2019  Oct 2019  Jan 2020  Feb 2020  Jun 2020  Jul 2020  Sep 2020  Oct 2020   

45 　　 History: Merpay  First stage of the Growing Wallet:
Merpay available for use on Funds  Became the first service in the industry allowed to resume the bank connections that were suspended due to fraud cases (Resumed connections with Japan Post Bank in January)  Began providing a “virtual card” that can be used to pay for purchases on online stores with Merpay Smart Payments  Became the first service in the industry to support KYC using the IC chips in Individual Number Cards  Reached 10 million Merpay users  Launched small-sum loan service Merpay Smart Money  Launched the Mercard credit card and constant point-back rewards system  Reached 650 thousand Mercards issued  Reached 1 million Mercards issued  Reached 1.5 million Mercards issued  Mercard and the bitcoin trading service selected as winners of the Good Design Award 2023  Reached 2 million Mercards issued  Reached 2.5 million Mercards issued  Reached 3.0 million Mercards issued  Obtained ISO/IEC 27001:2022 (JIS Q 27001:2023), an internationally recognized ISMS (International Security Information Management System) certification   Nov 2020  Dec 2020    Mar 2021    Apr 2021  Aug 2021  Nov 2022  Apr 2023  Jun 2023  Sep 2023  Oct 2023  Nov 2023  Jan 2024  Mar 2024  Jun 2024  　　　       

46 　　 History: Merpay  Started oﬀering installment payment to Mercard
holders for purchases on Mercari  Square franchises across Japan started accepting Merpay  Started oﬀering two-installment payment without fees to Mercard holders for purchases on Mercari  Reached 4 million Mercards issued  Released a black version of Mercard  Launched the Mercard Gold credit card  Launched installment payments using Mercard at physical and online stores outside of Mercari  Reached 5 million Mercards issued  Sep 2024     Oct 2024  Nov 2024  Dec 2024  Mar 2025  June 2025 

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